December 10, 2009

Exit Counseling Made Easier

Student loan borrowers are making a list and checking it twice before they graduate, transfer to another school or drop below half-time enrollment. Ensuring borrowers complete the exit counseling process is a top priority for financial aid officers.

Schools are required to forward Stafford and Grad PLUS exit counseling records to guaranty agencies within 60 days after the borrower completes counseling. Thanks to Exit Express, guaranty agencies are able to retrieve exit data on the school’s behalf.

Mapping Your Future’s (MYF) Online Student Loan Counseling is an easy and convenient way for borrowers and schools to meet these requirements. Schools can monitor exit counseling activity by retrieving exit records and can easily determine if there are exit records with no listed guarantor by running the guarantor exception report.

For more information, check out MYF’s exit retrieval article.